All Forum Posts by: Frank D.

Great post 1000% agree with everything that you discussed. I have also made posts with similar theme (ie. Do Not get into real eatate if you are broke, struggling, or in debt) Using other people money or OPM is basically how the real estate gurus sell you courses and the "Dream" don't believe the hype..

@jayshaw how is the St Catherines Market going??? are you doing flips on the SFH's?

Windsor can be a goldmine for cash flowing properties....Properties can be had for $50k + 15k renos and start flowing $1600 mth (duplex)

The biggest issue I see is....

1) properties are worn out old and dated so if you do not have capital you can only rent them to tenants willing to accept that type of living condition  ....(Bad) 

2) You need capital !!!!! you need capital to modernize and bring the properties upto todays standard...

Then charge a premium rent and cater to the tenant willing to pay $800/mth for a 1 bedroom 

3) By improving the property, and getting a $800 mth tenant you are also making your tenant headaches much smaller, your operation will run much smoother .......True Story.....:)

@Dan Carlini I am sure that in a city of 200K that their maybe and probably is some reliable contractors 

I am not speaking in absolutes but in general (from my experience)  80-95% of the contractors in Windsor are Unreliable, Unprofessional, or both......

Forward your contact info and schedule maybe we will work together in the future...Thank you

I agree with the above posts...NO RELIABLE CONTRACTORS in Windsor....Crazy huh? when you consider people say there is no work .....and city has 200K population......

I bought a duplex and had to bring my crew in from HAMILTON

Yup ....starting with a duplex More to follow

Never Sell !!!! If it cash flows, even a small amount do not sell....

Hamilton has done very well and is just getting better!!!!

I am also looking for this information ......Anyone????

Hi Darren,

No I am not doing anything with the townhouse...It has a small mortgage under 80k

and is my primary residence...so if the market goes to hell I can sail through no problem....

Over leveraged home owners and investors will be the ones hit hardest.....when they owe

$500k on a condo and overnight the price drops to $200k

Get rid of debt if possible......

Toronto is way out of control .....Think about it wages are not changing, yet the home prices are skyrocketing....any single family home in TO is 1 million min.... unless everyone in Toronto is a millionaire these days and making $250k plus its just a big credit bubble....

I sold my house at Bayview and Steeles for $1.2 million and it was average at best....The house in my eyes should have been worth $400K

I currently reside in a exec townhouse in Richmond Hill which I bought for $300k and is now $900K its nuts ...predicting the correction impossible....play safe in these crazy times...my guess is 30% over valued.....

FYI in 2008 i bought a $400K Condo in Las Vegas for $125k so the corrections can be severe.....people in Toronto think it will never happen.....lets see

Just my 2 cents...:)